China Stock Market May Open In The Red On Monday

(RTTNews) - The China stock market turned lower again on Friday, one day after snapping the two-day slide in which it had given up almost 50 points or 1.3 percent. The Shanghai Composite Index now sits just above the 3,930-point plateau and it may take further damage on Monday. The global forecast for the Asian markets suggests consolidation on renewed concerns over the outlook for interest rates. The European markets were mixed and flat and the U.S. bourses were down and the Asian markets figure to follow the latter lead. The SCI finished modestly lower on Friday following g losses from the resource, food and property sectors. For the day, the index slumped 11.97 points or 0.30 percent to finish at 3,930.12 after trading between 3,915.22 and 3,980.20. The Shenzhen Composite Index lost 19.91 points or 0.79 percent to end at 2,492.96. The lead from Wall Street is weak as the major averages opened lower on Friday and spent the whole day firmly under water, finishing near session lows. The Dow dropped 271.85 points or 0.51 percent to finish at 53,414.25, while the NASDAQ sank 77.11 points or 0.29 percent to close at 26,506.99 and the S&P 500 fell 29.11 points or 0.38 percent to end at 77,18.60. For the week, the Dow dipped 0.5 percent, the NASDAQ rose 0.4 percent and the S&P perked 0.1 percent. The pullback on Wall Street came amid renewed concerns about the outlook for interest rates following the release of much stronger-than-expected U.S. jobs data for August. Treasury yields jumped in reaction to the report, as the strong data could make the Federal Reserve more comfortable about raising interest rates later this month in an effort to fight sticky inflation. According to CME Group's FedWatch Tool, the chances the Fed will raise rates by a quarter point have bounced back to 58.4 percent after falling below 50 percent last week. Crude oil prices eased on Friday, reversing gains from the two previous sessions as the U.S. and Iran refrained from any military attacks. West Texas Intermediate crude for October delivery dipped $0.15 or 0.16 percent at $91.15 per barrel.

(RTTNews) - The China stock market turned lower again on Friday, one day after snapping the two-day slide in which it had given up almost 50 points or 1.3 percent. The Shanghai Composite Index now sits just above the 3,930-point plateau and it may take further damage on Monday.

The global forecast for the Asian markets suggests consolidation on renewed concerns over the outlook for interest rates. The European markets were mixed and flat and the U.S. bourses were down and the Asian markets figure to follow the latter lead.

The SCI finished modestly lower on Friday following g losses from the resource, food and property sectors.

For the day, the index slumped 11.97 points or 0.30 percent to finish at 3,930.12 after trading between 3,915.22 and 3,980.20. The Shenzhen Composite Index lost 19.91 points or 0.79 percent to end at 2,492.96.

The lead from Wall Street is weak as the major averages opened lower on Friday and spent the whole day firmly under water, finishing near session lows.

The Dow dropped 271.85 points or 0.51 percent to finish at 53,414.25, while the NASDAQ sank 77.11 points or 0.29 percent to close at 26,506.99 and the S&P 500 fell 29.11 points or 0.38 percent to end at 77,18.60. For the week, the Dow dipped 0.5 percent, the NASDAQ rose 0.4 percent and the S&P perked 0.1 percent.

The pullback on Wall Street came amid renewed concerns about the outlook for interest rates following the release of much stronger-than-expected U.S. jobs data for August.